Former player found guilty of bank fraud

by Justin da Rosa07 Aug 2015
The former owner of a California-based mortgage lending company pleaded guilty to fraud in a U.S. court earlier this week and has been found guilty of defrauding National City Bank of $12,744,678.

According to the FBI, Brady Bunte owned and operated Trust One Mortgage in Orange County, Calif., which funded mortgages through various banks. In 2007 and 2008 Trust One Mortgage maintained a revolving warehouse line of credit with National City Bank, which it used to fund mortgages.

During that time, Bunte submitted fraudulent funding requests on its line of credit.

“From March 2007 through November 2008, Bunte caused Trust One to submit fraudulent funding requests on its warehouse line of credit to National City Bank,” the FBI wrote in a release. “The fraudulent funding request caused National City Bank to incur a loss of $12,744,678.16.”

Bunte was charged on September 18, 2014 and arraigned on the charge on September 29.

He is scheduled for sentencing on November 2, 2015 before Chief District Judge Joseph McKinley Jr. in Louisville. 


  • by Steve | 8/15/2015 2:15:42 PM

    Great job! Wish my DA in Lompoc would of had done something when it came to reporting mortgage fraud.

  • by Mike | 2/4/2016 11:25:41 PM

    Another squishy south Orange County fraudster goes down in flames. Bunte has always been a putz, from HS to prison.


Should CFPB have more supervision over credit agencies?